USD/JPY Live News

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Jan. 31, 2023

Dollar/Yen trades at 130.37 ahead of United States Consumer Confidence today at 15:00 UTC

Live - Updated 48 minutes ago.

After closing at 130.36 yesterday, Dollar/Yen began today at 130.35 with significant bullish sentiment driving Dollar/Yen's price action higher. So far today, price action has drawn out a distinct 130.03 to 130.53 range.

  • United States Consumer Confidence data will be released today at 15:00 UTC, with an expected improvement to 109 (previous figure was 108.3).
  • Today's session seems to be pointing upwards and is building on Dollar/Yen's 5 days of gains (+77 pips).

Earlier data releases related to Dollar/Yen – data for Japan Industrial Production released yesterday at 23:50 UTC is better than expected with -0.1%, but worse than previous figure of 0.2%. Japan Retail Sales came out at 3.8%, better than analyst estimates of 3% and improving upon the previous reading of 2.5%.

Technical analysis of Dollar/Yen before macro data is released:

USD/JPY could be slowing down soon as it approaches resistance at 130.57. Of course, crossing it might suggest further gains are ahead. Although up today, early price action saw Dollar/Yen dropping below its 21 day Simple Moving Average at 130.09 — an early indicator that a new downward trend could be emerging.

Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Dollar/Yen is set for a reversal in the coming days.

Coming up for Dollar/Yen — Japan 10-Year JGB Auction scheduled to come out tomorrow at 03:35 UTC. United States Crude Oil Inventories expected to decline to -1,000,000 while its preceding data was 533,000, data will be available tomorrow at 15:30 UTC.

As the markets get ready for more data to be released — AUD/USD closed at 0.7004 (down 0.81%). Having closed the previous session at 1.537, EUR/AUD is up 0.66% today to currently trade at around 1.5471. USD/CAD is up 0.45%.

As things stand, Dollar/Yen is 13.15% away from a significant high of 150.1, first set 3 months ago.

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Week to date

Dollar/Yen is trading around 130.37 after ending the previous session at zero (up 0%) .

Trading week at a glance - USD/JPY is up to 130.37, after closing yesterday at zero. Overall, a 0% move or 13,036 pips this week. (Start trading Dollar/Yen at FXTM today).

Nevertheless, United States Pending Home Sales beat analyst expectations of -0.9% and the previous reading of -2.6% with new data of 2.5%.

At the same time, Japan Industrial Production released yesterday at 23:50 UTC is better than expected at -0.1% but down from preceding data of 0.2% according to new data. Japan Retail Sales came out at 3.8%, better than analyst estimates of 3% and improving upon the previous reading of 2.5%. Japan Jobs/applications ratio (Dec) released yesterday at 23:30 UTC with a figure of 1.35, while the previous figure was 1.35. Japan CFTC JPY speculative net positions released Friday with a figure of -21,600, while the previous figure was -23,000.

The market is looking forward to the release of new data: Japan Household Spending (YoY) (Dec) will be released Monday. Japan Household Spending (MoM) (Dec) scheduled to come out Monday. Japan Services PMI is expected Friday.